What documents and information banks actually ask for
To open a business checking account, you will need to bring or provide your Employer Identification Number (EIN) — a nine-digit number the IRS assigns to your business — along with a government-issued photo ID showing your personal name and address. If your business is brand new and you do not have an EIN yet, you can request one from the IRS before you go to the bank, or some banks will help you explore during the account opening.
You will also need to show proof that your business exists. What counts as proof depends on your business structure. If you are a sole proprietor (you own the business by yourself with no formal business entity), banks typically accept a business license, a DBA certificate (a "Doing Business As" filing from your county), or even a business card and tax return. If you formed an LLC, corporation, or partnership, bring your Articles of Organization or Articles of Incorporation — the official document you filed with your state when you created the business.
The bank will ask for your business address and the names and ownership percentages of anyone who owns more than a small stake in the business (usually more than 20 percent). Be ready to answer whether you expect to deposit checks, make wire transfers, or use merchant services like a card reader. This helps the bank set up the right features for your account.
Key Takeaways
- You need your EIN, a government photo ID, and proof your business exists — such as a business license, DBA certificate, or incorporation papers.
- Sole proprietors can often open an account with just a business license or even a tax return, while LLCs and corporations need their formation documents.
- Banks will ask for your business address and the names of owners with significant stakes in the business.
- You can request an EIN from the IRS before opening the account, or ask the bank to help you during the process.
- Different banks have different minimum deposit requirements and monthly fees, so compare a few before you choose.
Getting an EIN if you do not have one yet
An EIN is free and takes about 15 minutes to request online. Go to the IRS website (irs.gov) and look for the EIN process tool. You will answer questions about your business structure, location, and what your business does. The IRS will issue your number when ready on screen, and you can print or write it down right then.
If you prefer not to explore online, you can call the IRS at 1-800-829-4933 during business hours, or mail Form SS-4 to the IRS. The phone route usually takes a few minutes. The mail route takes two to four weeks. When you go to the bank, bring whatever proof you have — the printed confirmation from the online process, the number the IRS gave you over the phone, or the receipt from mailing the form.
Documents to bring in person or upload online
Most banks now let you start the process online and finish it in a branch, or complete the whole thing online if you upload documents. Either way, have these items ready before you begin:
- Your EIN (or proof you requested one)
- Your government-issued photo ID — a driver's license, passport, or state ID card
- Your business formation document — business license, DBA certificate, Articles of Organization, or Articles of Incorporation
- Your business address and phone number
- The names, titles, and ownership percentages of owners
- Your expected monthly deposit and transaction volume (a rough estimate is fine)
If you are opening the account online, the bank will ask you to photograph or scan these documents and upload them. Make sure the images are clear and show the full document. If you are going to a branch, bring the originals or certified copies. The bank may keep copies on file.
Sole proprietor versus business entity — what changes
If you operate as a sole proprietor — meaning you have not formed an LLC, corporation, or partnership — the bank may ask you to show a business license or DBA certificate. Some banks will open an account for a sole proprietor with just a personal tax return (Schedule C) showing your business income, though this is less common. You will still need your EIN and personal ID.
If you formed an LLC, S-corporation, C-corporation, or partnership, bring the Articles of Organization or Articles of Incorporation you filed with your state. These are the official documents that created your business entity. The bank needs to see them to confirm the business is real and to understand who the legal owners are. You will also need to list the names and ownership stakes of all owners, and the bank may ask for a resolution or certificate showing who is authorized to open the account.
The reason for this difference is that a sole proprietor and the business are legally the same person, while an LLC or corporation is a separate legal entity. Banks treat them differently for tax and liability reasons.
Minimum deposits and account fees
Business checking accounts often require a minimum opening deposit — the amount varies widely by bank, from $0 to $2,500 or more. Some banks waive the minimum if you set up direct deposit or maintain a certain balance. Others charge a monthly fee ($10 to $30 is common) unless you meet conditions like a minimum balance or a certain number of monthly transactions.
Before you choose a bank, call or visit their website and compare the opening deposit requirement, monthly fee, and any conditions that waive the fee. A bank with no monthly fee but a $1,000 minimum deposit may cost you less than a bank with a $10 monthly fee and no minimum, depending on how much you keep in the account. Ask whether the bank charges extra for things you plan to use — wire transfers, check printing, or merchant services — because these fees add up.
What happens after you submit your documents
Once you hand over or upload your documents, the bank will verify your information. They will check your EIN with the IRS, confirm your business formation documents are real, and run a background check. This usually takes one to five business days. Some banks approve you the same day if you go to a branch and bring originals.
The bank will contact you by phone or email if they need anything else — for example, a clearer photo of a document, or confirmation of who is authorized to sign checks. Once they approve you, they will give you your account number and routing number, either in person or by email. You can start depositing checks and making transfers right away. Debit cards and checks usually arrive by mail within one to two weeks.
Frequently Asked Questions
Can I open a business checking account if my business is brand new and I have no revenue yet?
Yes. Banks do not require you to have been in business for any length of time or to have made any sales. You need an EIN, proof your business exists (a license or formation document), and a government ID. Some banks ask about expected monthly deposits, but you can estimate based on your business plan.
Do I need to bring the original documents or can I send copies?
If you open the account online, you upload scans or photos. If you go to a branch, bring originals or certified copies. The bank will usually photocopy them and keep the copies on file. Certified copies (stamped by the government office that issued them) carry more weight than photocopies you make yourself, but most banks accept either.
What if I do not have a business license yet?
Some banks will open an account with just your EIN and a DBA certificate (which is faster and cheaper to file than a business license). Others require a license. Call the bank before you go and ask what they accept. If they require a license and you do not have one, you can file for one at your city or county clerk's office — it usually takes a few days to a few weeks.
Can someone else open the account on behalf of my business?
Usually not. The bank needs to verify your identity in person or through a video call, and they need to confirm that you are authorized to open the account. If you have a partner or manager, they may be able to open it if they have power of attorney or a corporate resolution showing they are authorized, but this varies by bank. Ask first.
What if my business address is the same as my home address?
That is fine. Many small businesses operate from home. Bring your government ID showing your home address, and tell the bank that is also your business address. You do not need a separate commercial space to open a business checking account.